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Notice of Financial Results for the Third Quarter of the Fiscal Year Ending March 31 , 2009

Last updated:February 2, 2009

NTT Urban Development Corporation
(First Section of the Tokyo Stock Exchange: 8933)

NTT Urban Development Corporation (the Company; President: Masaki Mitsumura; head office: 14-1, Sotokanda 4-chome, Chiyoda-ku, Tokyo) announced the consolidated financial results for the NTT Urban Development Group (the Group) for the period from April 1, 2008 to December 31, 2008, being the third quarter of the fiscal year ending March 2009 (its 24th fiscal period). Please refer to the Summary of the Third Quarter of the Fiscal Year Ending March 2009, and the Overview of the Third Quarter of the Fiscal Year Ending March 31, 2009 for details.

Highlights

  • During the first nine months of the fiscal year ending March 2009, the Group posted consolidated net sales of ¥104,063 million, an increase of ¥18,075 million compared with the corresponding period of the preceding fiscal year. Operating income was ¥26,275 million (up ¥8,219 million), ordinary income was ¥22,032 million (up ¥5,950 million), and quarterly net income was ¥12,458million (up ¥3,178 million).
  • In the Leasing segment, the impact of the inclusion of the UDX Tokutei Mokuteki Kaisha (Special Purpose Company) in the Company's consolidated subsidiaries, rent income from the buildings newly acquired, and the revision of rents for existing buildings pushed up earnings, resulting in revenue and profit increases. In this segment, sales were ¥74,657 million (up ¥7,356 million), and operating income amounted to ¥27,095million (up ¥7,408 million).
  • In the Residential Property Sales segment, an increase in sales of condominiums contributed to higher revenue and profits. Sales amounted to ¥19,947million (up ¥7,813 million), and operating income stood at ¥1,556million (up ¥799 million).

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